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Morgan Stanley Boosts Price Target on CONSOL Energy (CNX)

Electricity and natural gas provider CONSOL Energy Inc. ( CNX ) on Friday saw its price target raised by analysts at Morgan Stanley.

The firm said it boosted its target on CNX from $76 to $79, suggesting a massive 85% upside to the stock's Thursday closing price of $42.59. Morgan Stanley also backed its "Overweight" rating on the energy stock, which has lost nearly 13% of its share value year-to-date.

CONSOL Energy shares fell 79 cents, or -1.9%, in premarket trading Friday.

The Bottom Line

Shares of Consol Energy ( CNX ) have a .94% dividend yield, based on last night's closing stock price of $42.59. The stock has technical support in the $37-$40 price area. If the shares can firm up, we see overhead resistance around the $45-$46 price levels.

CONSOL Energy Inc. ( CNX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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